Section 27-1-25-1 - Definitions As used in this chapter:
(a) "Administrator" means a person who directly or indirectly and on behalf of an insurer underwrites, collects charges or premiums from, or adjusts or settles claims on residents of Indiana in connection with life, annuity, or health coverage offered or provided by an insurer. The term "administrator" does not include the following persons: (1) An employer or a wholly owned direct or indirect subsidiary of an employer acting on behalf of the employees of: (C) an affiliated corporation of the employer.(2) A union acting for its members.(4) An insurance producer: (A) that is licensed under IC 27-1-15.6;(B) that has: (ii) an accident and health or sickness; qualification under IC 27-1-15.6-7; and
(C) whose activities are limited exclusively to the sale of insurance.(5) A creditor acting for its debtors regarding insurance covering a debt between them.(6) A trust established under 29 U.S.C. 186 and the trustees, agents, and employees acting pursuant to that trust.(7) A trust that is exempt from taxation under Section 501(a) of the Internal Revenue Code and: (A) the trustees and employees acting pursuant to that trust; or(B) a custodian and the agents and employees of the custodian acting pursuant to a custodian account that meets the requirements of Section 401(f) of the Internal Revenue Code.(8) A financial institution that is subject to supervision or examination by federal or state banking authorities to the extent that the financial institution collects and remits premiums to an insurance producer or an authorized insurer in connection with a loan payment.(9) A credit card issuing company that: (B) collects from, when a credit card holder authorizes the collection; credit card holders of the credit card issuing company, insurance premiums or charges.
(10) A person that adjusts or settles claims in the normal course of the person's practice or employment as an attorney at law and that does not collect charges or premiums in connection with life, annuity, or health coverage.(11) A health maintenance organization that has a certificate of authority issued under IC 27-13.(12) A limited service health maintenance organization that has a certificate of authority issued under IC 27-13.(13) A mortgage lender to the extent that the mortgage lender collects and remits premiums to an insurance producer or an authorized insurer in connection with a loan payment.(14) A person that: (A) is licensed as a managing general agent as required under IC 27-1-33; and(B) acts exclusively within the scope of activities provided for under the license referred to in clause (A).(15) A person that: (A) directly or indirectly underwrites, collects charges or premiums from, or adjusts or settles claims on residents of Indiana in connection with life, annuity, or health coverage provided by an insurer;(B) is affiliated with the insurer; and(C) performs the duties specified in clause (A) only according to a contract between the person and the insurer for the direct and assumed life, annuity, or health coverage provided by the insurer.(b) "Affiliate" means an entity or a person that:(1) directly or indirectly through an intermediary controls or is controlled by; or(2) is under common control with; a specified entity or person.
(c) "Church plan" has the meaning set forth in IC 27-8-10-1.(d) "Commissioner" refers to the insurance commissioner appointed under IC 27-1-1-2.(e) "Control" means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person, whether:(1) through ownership of voting securities;(2) by contract other than a commercial contract for goods or nonmanagement services; or(3) otherwise; unless the power is the result of an official position with the person or a corporate office held by the person. Control is presumed to exist if a person directly or indirectly owns, controls, holds with the power to vote, or holds proxies representing not less than ten percent (10%) of the voting securities of another person.
(f) "Covered individual" means an individual who is covered under a benefit program provided by an insurer.(g) "Financial institution" means a bank, savings association, credit union, or any other institution regulated under IC 28 or federal law.(h) "GAAP" refers to consistently applied United States generally accepted accounting principles.(i) "Governmental plan" has the meaning set forth in IC 27-8-10-1.(j) "Home state" means the District of Columbia or any state or territory of the United States in which an administrator is incorporated or maintains the administrator's principal place of business. If the place in which the administrator is incorporated or maintains the administrator's principal place of business is not governed by a law that is substantially similar to this chapter, the administrator's home state is another state:(1) in which the administrator conducts the business of the administrator; and(2) that the administrator declares is the administrator's home state.(k) "Insurance producer" has the meaning set forth in IC 27-1-15.6-2.(l) "Insurer" means: (1) a person who obtains a certificate of authority under:(2) an employer that provides life, health, or annuity coverage in Indiana under a governmental plan or a church plan.(m) "Negotiate" has the meaning set forth in IC 27-1-15.6-2.(n) "Nonresident administrator" means a person that applies for or holds a license under section 12.2 of this chapter.(o) "Person" has the meaning set forth in IC 27-1-15.6-2.(p) "Sell" has the meaning set forth in IC 27-1-15.6-2.(q) "Solicit" has the meaning set forth in IC 27-1-15.6-2.(r) "Underwrite" refers to the: (1) acceptance of a group application or an individual application for coverage of an individual in accordance with the written rules of the insurer; or(2) planning and coordination of a benefit program provided by an insurer.Amended by P.L. 124-2018,SEC. 46, eff. 7/1/2018.Amended by P.L. 11-2011, SEC. 18, eff. 7/1/2011.As added by Acts1980 , P.L. 168, SEC.2. Amended by Acts1982 , P.L. 165, SEC.1; P.L. 26-1991, SEC.18; P.L. 26-1994, SEC.10; P.L. 2-1995, SEC.101; P.L. 185-1996, SEC.9; P.L. 79-1998, SEC.31; P.L. 207-1999, SEC.1 and P.L. 255-1999, SEC.1; P.L. 132-2001, SEC.7; P.L. 160-2003, SEC.4; P.L. 178-2003, SEC.27; P.L. 97-2004, SEC.96.